Writing in the book, Managing Money in Early Childhood Organizations (part of the Art of Leadership series), Lori Harris calls out two budget items that are often forgotten (or at least underestimated):
"A commonly under-budgeted item is substitute teachers. If you offer vacation and want to maintain ratios, you need substitutes. And people get sick. It is an expense that most of us do not include in our budgets, but we pay for them in staff morale if not in dollars...
"Professional development is often under-budgeted. Here you include any courses, training, or conferences you would like your staff to attend. Conference attendance can include registration fees, overnight accommodations, meals, and travel or employees can pay part."
in Early Childhood Organizations
Administrators of early childhood programs must be as effective at managing financial matters as they are at caring for young children and their families. Managing Money in Early Childhood Organizations provides you with practical advice from top experts on every aspect of money management, including budgeting, fundraising, financial reporting, cash flow analysis, audits, salary schedules, fee policies, collection techniques, and more.
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